Right Buy, Right Time

The fastest growing company in Sarasota has a new trophy: An office headquarters more than three times larger than its current space.

Not only that, but the company, online marketing firm IntegraClick, bought the two-building, 79,000-square-foot complex on 12 acres at the bargain price of $5.75 million, roughly $72 a square foot — a cost that surely reflects the slumping market. The $5.75 million price also includes space for IntegraClick to build a third building on the site.

Several local commercial real estate brokers tell Coffee Talk that the complex, at the corner of Honore Avenue and University Parkway, about a mile west of Interstate 75, could have gone for $150 or even $160 a square foot during the boom. IntegraClick bought the complex, University Professional Park, from Burton-Katzman, a Michigan based commercial real estate development and property management firm with a large portfolio in Sarasota.